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Johnson formed a working group to address specific pension
issues and dedicated revenue as part of what he says is a
comprehensive and balanced approach to fund the public employee
retiree benefit.
In a recent letter the Taxpayer Pension Alliance sent Johnson,
the group said the city's unfunded pension liability is more
than $52 billion, which would cost about $45,000 per Chicago
household. On Wednesday, those demanding pension fixes were in
Chicago to highlight the issue.
The Taxpayer Pension Alliance includes Wirepoints, the
Technology and Manufacturing Association, the Center for Pension
Integrity and the Illinois Policy Institute.
Josh Bandoch with Illinois Policy Institute explained what they
are trying to accomplish by putting pressure on the working
group.
"The purpose ... was to first observe the reality that Chicago
has a big pension problem," Bandoch said. "That pension problem
is really harmful to all Chicagoans."
The best way to solve the problem is by community involvement,
Bandoch said.
"What we are asking the mayor to do specifically, in the context
of his pension working group, which he formed, and that is great
because it means he realizes there is a problem, or else we
wouldn't have a working group," Bandoch said. "We think the only
way that working group provides a viable solution is if
taxpayers drive that conversation."
Bandoch called for outside help as well.
"We need to evaluate the scope of the problem in the best way
possible, which is by having any proposal scored by an
independent professional actuaries so we can rigorously analyze
it and know if this would actually solve our problems," Bandoch
said.
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